The ANCHOR program is a tax benefit program for New Jersey homeowners who meet the requirements based on 2020 residency, income, and age. Here are some details about the program:
Positive aspects:
- The program provides tax benefits to eligible homeowners.
- If you received the ANCHOR Benefit Confirmation Letter notifying you that you qualify and you do nothing else, the application will be filed for you and the benefit will be paid based on the information in that letter.
- Homeowners can file their applications electronically, either online or by using the Identification Number and PIN provided in the green filing packet.
Negative aspects:
- If you need to change any information, you have until September 30, 2023, to file an application on your own. All other applicants have until Friday, December 29, 2023, to file applications.
- If you understate your income and the state sends you a larger benefit than you are entitled to, you will be required to repay the excess amount.
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